The following balances are from the accounts of Tappan Parts: ...
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Accounting
The following balances are from the accounts of Tappan Parts:
| January 1 (Beginning) | December 31 (Ending) | |||||
| Direct materials inventory | $ | 21,900 | $ | 24,900 | ||
| Work-in-process inventory | 32,000 | 29,000 | ||||
| Finished goods inventory | 5,200 | 7,200 | ||||
Direct materials used during the year amount to $45,500 and the cost of goods sold for the year was $52,900.
Required:
Prepare a cost of goods sold statement.
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